On December 17, Bitcoin experienced a significant surge in buying activity, resulting in a swift influx of capital that briefly propelled the leading cryptocurrency beyond the $90,000 mark.
Within approximately half an hour, BTC’s price escalated from near $87,000 to a peak just over $90,000 before settling around $89,950 at the time this report was published. This rapid ascent represents one of the quickest short-term gains observed recently.
According to data from CoinMarketCap, Bitcoin’s market cap surged from about $1.745 trillion to nearly $1.80 trillion during this rally—an increase of roughly $55 billion in value within a brief span.
Bitcoin Price Insights
At present, Bitcoin is trading at approximately $89,948—reflecting an increase of slightly more than 3.1% over the last 24 hours. Trading volumes remained high amid heightened volatility; daily volume fluctuated between $34.6 billion and $37.5 billion throughout the spike.
This sharp upward movement followed an earlier phase where prices moved sideways as consolidation took place before aggressive purchases emerged suddenly. The breakout pushed BTC momentarily above the psychologically significant threshold of $90K before some profit-taking occurred.
Despite retreating from intraday highs somewhat, Bitcoin retained most gains indicating buyers were ready to absorb selling pressure even at elevated price points. Additionally, the fully diluted valuation neared $1.88 trillion while circulating supply stayed steady just below 20 million coins.
Investors should recognize that such rapid jumps in market capitalization typically stem from concentrated acquisitions by large players rather than slow accumulation by retail traders. Although pinpointing exact sources remains difficult, the speed and scale imply coordinated demand entering within a tight timeframe on December 17th.